How Much Money Has Been Given For Scholarships

Each yr, more than 1.seven 1000000 private scholarships and fellowships are awarded, with a total value of more than $seven.4 billion.

Scholarships and fellowships are a form of gift help, which is financial aid that does not need to exist repaid or earned. Private scholarships are contained, non-college-controlled gift aid, often funded by foundations, corporations and philanthropists.

Scholarships are typically awarded to undergraduate students and fellowships are typically awarded to graduate and professional school students.

This article provides data almost scholarships statistics. A different article provides information about educatee loan statistics.

Did you lot know that scholarships are taxable? Utilise our Scholarship Tax Calculator to figure out the taxable amount of your scholarships and calculate how much you'll accept to pay in taxes. Amounts used to pay for tuition and textbooks may be tax-free, merely amounts used to pay for living expenses are taxable.

Number and Corporeality of Scholarships

This table shows the number of scholarships and total amount of scholarships awarded to all undergraduate students. It as well reports the average scholarship corporeality per recipient and the percent of undergraduate students using scholarships to pay for college.

Academic Yr	Number of Scholarships	Total Corporeality of Scholarships	Boilerplate Scholarship	Percentage with Scholarships
1989-1990	526,000	$695 million	$1,321	3.2%
1992-1993	639,000	$920 million	$1,441	3.5%
1995-1996	594,300	$920 million	$1,547	iii.6%
1999-2000	i,397,000	$2.9 billion	$ii,065	8.4%
2003-2004	1,289,900	$ii.5 billion	$1,961	6.viii%
2007-2008	1,092,400	$ii.seven billion	$2,509	5.3%
2011-2012	1,811,500	$half dozen.two billion	$iii,431	7.9%
2015-2016	1,581,000	$6.ane billion	$3,852	8.1%

This table shows the information for 2015-16, broken down past undergraduate degree level.

Bookish Degree Level	Number of Scholarships	Total Amount of Scholarships	Average Scholarship	Percentage with Scholarships
Certificate	54,300	$157,531,788	$ii,901	iii.1%
Associate's Caste	352,300	$992,896,990	$2,818	4.four%
Available's Degree	1,154,300	$four,850,366,291	$4,202	12.7%

There are more than a dozen free scholarship search sites that will match a student's background against a database of scholarships. The typical high school senior will match fifty to 100 such scholarships, depending, in office, on whether they answer the optional questions in add-on to the required questions.

Odds of Winning a Scholarship

The raw odds of winning a scholarship are about i in 8 for a student in a Bachelor's degree program.

Very few of these students will win a "free ride." Of students in Bachelor's degree programs in 2015-sixteen, only 1.five% got enough scholarships and grants to cover 100% of the cost of omnipresence.

2.7% got enough to comprehend 90% of the price of attendance, v.ix% got enough to cover three quarters of the cost of attendance, and 18.eight% got enough to cover half of the cost of attendance.

Of all undergraduate students, merely 0.ane% got $25,000 or more in scholarships. 97% of scholarship recipients receive $2,500 or less in scholarships.

Number and Corporeality of Fellowships

This table shows the number of fellowships and total corporeality of fellowships awarded to all graduate and professional person school students. It also reports the average fellowship corporeality per recipient and the percentage of graduate and professional school students using fellowship to pay for college.

Academic Twelvemonth	Number of Fellowships	Total Amount of Fellowships	Average Fellowship	Pct with Fellowships
1995-1996	66,300	$218 one thousand thousand	$3,291	2.4%
1999-2000	158,600	$623 million	$iii,927	6.0%
2003-2004	157,800	$573 1000000	$iii,629	5.6%
2007-2008	124,500	$716 million	$v,752	3.half-dozen%
2011-2012	199,000	$1.38 billion	$6,930	five.4%
2015-2016	189,500	$one.28 billion	$6,752	5.3%

Graduate and professional person school students are less likely to receive fellowships than undergraduate students, but the average amount received is greater.

Characteristics of Scholarship Recipients

The odds of a student winning a scholarship vary according to educatee characteristics, such every bit grades, examination scores, field of study and race.

Grades: Students with a three.5 to 4.0 unweighted GPA are twice equally likely to win a private scholarship as students with less than a 3.0 GPA. 17.0% of students with a 3.v or higher GPA win private scholarships, compared with 13.1% of students with a iii.0 to iii.4 GPA, 10.iv% of students with a ii.5 to 2.9 GPA, viii.3% of students with a 2.0 to ii.4 GPA, and 7.0% of students with less than a 2.0 GPA. So, fifty-fifty though most scholarships do not consider a pupil's GPA, in that location is a potent correlation between academic operation and odds of winning a scholarship.

Examination Scores: Students with above-average Sabbatum and ACT test scores are more likely to win private scholarships. 12.nine% of students with a Sat score of 1,000 or more win private scholarships, compared with vii.viii% of students with a SAT score under 1,000. 12.four% of students with an Act score of 21 or higher win individual scholarships, compared with 7.vii% of students with an ACT score under 21.

Bailiwick: 16.ii% of students majoring in Stem (science, technology, engineering and mathematics) win individual scholarships, compared xi.5% of students pursuing non-STEM fields.

Race: White students are more likely to win a scholarship than minority students, 13.8% vs. 11.2%. Among students in Available's degree programs, nearly two-thirds (62.iii%) are White, xi.viii% are Black or African-American, 13.half-dozen% are Hispanic or Latino, half dozen.i% are Asian, 1.vi% are American Indian or Alaska Native, 0.3% are Native Hawaiian or Other Pacific Islander, and four.3% are more than one race.

Impact of Scholarships on Higher Affordability

Although correlations do non prove causation, a dose-response relationship, where outcomes ameliorate with increases in the amount of private scholarships, is suggestive of causation. If the dose-response relationship is initially flat, that may be a sign of a dependency on having a disquisitional mass of scholarships relative to costs.

When a student wins a individual scholarship, their souvenir assistance covers a greater share of the cost of attendance.

The net price is the divergence between the toll of attendance and gift assist. It is the real price of college, the amount the family unit must pay from savings, income and loans. This chart shows that the net cost remains unchanged regardless of the corporeality of scholarships, an indication that private scholarships allow recipients to buy up to a more expensive college than they otherwise could afford.

Receipt of private scholarships causes students to shift their enrollment patterns to more-selective colleges. Most ii-thirds (67%) of students with private scholarships enroll at very or moderately selective colleges, compared with more than a tertiary (36%) of students who do not have private scholarships.

This tabular array shows other means in which scholarship recipients "purchase upwardly" to a better college. Scholarship recipients are more likely to enroll full-time, more likely to enroll at a iv-year college, more than probable to pursue a Bachelor's caste, more likely to enroll at a private non-profit higher, and more than likely to enroll at an out-of-country college.

Private Scholarships	Percent iv-Year	Percent Bachelor's	Percent Private Non-Profit	Percent Out-of-Land	Per centum Total-Time
None	54%	44%	15%	xv%	49%
Some	78%	73%	27%	18%	81%

Receipt of individual scholarships also has an impact on outcomes, as shown in this tabular array. The graduation rates are Bachelor's degree attainment rates for students enrolled in a Bachelor'southward degree plan. Curiously, the departure in Available'southward degree attainment rates is about 15% for 4, 5 and six years.

Private Scholarships	iv-Year Grad Charge per unit	5-Year Grad Rate	6-Twelvemonth Grad Rate	Applied to Grad School
None	30.iii%	49.5%	59.7%	26.0%
Some	45.1%	64.6%	74.4%	28.3%

Methodology

The data in this report is based on the National Postsecondary Educatee Assistance Report (NPSAS), a large quadrennial study of how students paid for their higher pedagogy. The almost recent NPSAS, the 2015-16 NPSAS, surveyed 89,000 undergraduate students and 24,000 graduate students.

Source: https://www.savingforcollege.com/article/college-scholarships-statistics

Posted by: elderwormse.blogspot.com

Share this post